i think how it works is, it'll take the next foreign currency with the cheapest conversion fee. https://wise.com/help/articles/2935778/what...e-in-my-account

so if you had some USD, and for example, USD convert to TWD only 0.1% fee (just as example only), Wise will use that. bad news if you had previously converted RM to USD for later usage

so to overcome this, safeguard any foreign currencies you have in your Wise in Wise Jars. and withdraw them back to normal balance when u want to use

This post has been edited by Medufsaid: Jan 27 2025, 01:04 PM

How to make Wise as Credit Card?

"International ATM withdrawals - 2 withdrawals to the value of 1,000 MYR/month free; 1.75% + 5 MYR after that"

If I want to withdraw cash in Taiwan, how does this work? Let's say I don't want to incur any additional fee or whatsoever.

This post has been edited by starry-starry: Feb 3 2025, 04:49 PM

starry-starry can only withdraw this much. 7,364.16 TWD. need to wait other sifus here who actually did this as some countries ATM might have their own fees. i just provide you explanation on what Wise wrote



This post has been edited by Medufsaid: Feb 3 2025, 04:58 PM

So just withdraw around 7200-7300 NTD one time per month. or 3600 x2 in a month. after that get charged extra fees. withdraw in the ATMs (mostly Cathay United bank, green yellow color ATM) inside MRT will be the safest not to get extra charge. ATMs inside 7-11 have extra charges. When ask to whether to convert or delay the conversion, choose delay the conversion inside the ATM menu. Other option, use GX. But I had a few times not able to withdraw esp on the weekend or around their maintenance time.

Yes. And if you have multiple currency in your WISE, it will automatically use the one with the best rate.

Debit Card like WISE is one of my 1st choice for overseas usage. The worst come to the worst, the worst case scenario would be, I lost the amount of money in the card and nothing more.

sorry. my mistake. it is a debit card

Alright, guess I will just stick to around TWD7000.

I just got this Wise card as recommended by others since it seems pretty useful for oversea usage. I'm considering to get GX card too, so I guess stick to Cathay United Bank and there will be no extra fee charged for cash withdrawal？ Any limit for cash withdrawal limit like Wise using GX card?

Yes on the TWD7,000 ATM withdrawal via Cathay United Bank.

Seems like it's a little cheaper to transfer to WISE vs Singapore Bank Accounts. Both also SGD. Has it been like this previously ?

GregPG01 since when?


just checked and it's not cheap

To CIMB SG
How much are you sending? Rate guaranteed (47h)
1 MYR = 0.3031 SGD
You send exactly 5,000
CIMB SG gets 1,505.06
SGD Paying with Online banking (FPX)
Change Includes fees 34.46 MYR


To WISE
Add money Amount to add to Wise 1,507 SGD
Paying with Online banking
Currency to pay in Malaysian ringgit
1 MYR = 0.3031 SGD
Amount we'll convert
4,971.96 MYR
Online Banking (FPX) fee 0 MYR
Our fee 27.35 MYR
Total fees 27.35 MYR
Total you'll pay 4,999.31 MYR

GregPG01 wise charges you "convenience fees" if u don't manually split it into

1. convert to SGD and put into Wise SGD balance
2. send SGD to CIMB sg

just send it to Wise SGD balance first. you'll get your 1,507SGD, after that, you send from Wise SGD balance to CIMB sg. you'll find out that sending from SGD balance to CIMB sg costs you S$0.00.

hopefully you are doing this to lower wise fees as much as possible

1. deposit from local malaysian bank to MYR wise balance
2. convert Wise MYR balance to SGD and put into Wise SGD balance
3. send SGD to CIMB sg

This post has been edited by Medufsaid: Feb 10 2025, 02:58 PM

Can any sifu advise me regarding this? Is my calculation correct? Coz I realized it seems better than I change $$$ at money changer locally than withdrawing or using wise card using their conversion rate?

Let's say I wanna buy TWD1000 at money changer, I have to pay RM133.95 (we sell at 13.395).

And if I use Wise card to make TWD1000 or withdraw TWD1000 cash from ATM, then after conversion it actually cost me RM136.02?



This post has been edited by starry-starry: Feb 12 2025, 01:27 AM

Hi, for wise card, if going to china, i just link it to my alipay right? then do i need to convert my msia ringgit to CNY? or just leave it in myr?

Money changers are difficult to find in Taiwan (away from the airport). And if you take out cash using Wise card from the ATM, you will have to factor in the cost of transaction (from the local bank), the conversion from from Wise is not that high.

No, I don't mean to exchange money in Taiwan but locally. I was told that the rate is better via Wise or GX but somehow I realized it seems I could save more if I exchange TWD here. I just wonder if my calculation or understanding is correct...

When you go to money changer, you are to pay the rate what they 'sell'.

This is the rate at 2025-02-12 10:56 AM taken from https://www.exchangerate.my/maxmoney/midvalley-megamall:

13.3750

so you will be paying RM133.75 for every TWD1,000.00

If Wise rate is higher than RM133.75 for the same time, then money changer is a better choice.

Edit:

However, I noticed the mid market rate is actually higher than 13.3750
https://www.xe.com/currencyconverter/conver...From=TWD&To=MYR

so there is a chance, the rate may be revised at the money changer any time.

This post has been edited by laymank: Feb 12 2025, 01:37 PM

Thanks for the confirmation, cuz I do notice the rate is better at the money changer these 2 days. For exchanging money at money changer, I am more familiar with. What I would like to find out is for Wise, if I withdrawal cash from ATM in Taiwan or use my Wise card to make payment in Taiwan, the conversion rate in Wise should be from TWD to MYR right?

The reason I posted this cuz I remember everyone is saying Wise/GX is a better option so I quickly ordered both cards so now wondering if I should just stick to old fashioned way since I don't mind exchanging money first locally, as long as I could save some bucks

This post has been edited by starry-starry: Feb 12 2025, 03:03 PM

starry-starry we still recommend cards as mentioned before